Joe Koy Inc pays a semi-annual dividend of $3.10 in perpetuity. The first dividend occurs six-months from today. Calculate the price of the security if the annual percentage rate is 8%, compounded semi-annually. (Round to 2 decimals) Suppose you plan to borrow 80,000 for five years. The required rate of return on the loan is 4%, and the loan makes equal annual payments. Calculate the amount of interest paid in the 2nd year of the loan. (Round to 2 decimals)